Banks vying to cash in festive season

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New Delhi, Oct 13 2007 : In a bid to boost slackening credit demand, banks are expected to cut rates ahead of the festival season lasting till the end of the year to stoke credit off take.

Rate cuts spurred by market leaders SBI and ICICI will act as a cue to other lenders to join the bandwagon to take advantage of demand over the next 10 weeks by deploying credit at lower rates.

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